WASHINGTON INCENTIVES SUMMARY
Sector-Based Strategy for Economic Prosperity
Washington State offers a range of incentives structured to specific industries. Incentives may be in the form of tax credits, exemptions, or deferrals for certain activities, such as purchasing new equipment, investing in new technologies, or building new manufacturing facilities.
Job Skills Program (JSP)
JSP is customized job training program designed with flexibility to meet the specific needs of employers. Training for new and existing employees is eligible both at the work site or in a classroom. JSP training is a tool for enhancing the growth of the Washington economy and increasing employment opportunities. Job Skills Program projects reimburses up to 50 percent of the cost of training. Companies may contribute cash, in-kind contribution, or a combination of both.
Washington Customized Employment Training Program (CTP)
The Customized Training Program provides interest-free loans to companies to assist with the up-front costs of training employees. The company is responsible to repay the loan once the company completes the training program. The first payment is equal to 25 percent of the full cost of training and is due upon completion of the training program. The remaining 75 percent is repaid over the next 18 months. As each payment is made the business may take a state business and occupation (B&O) tax credit equal to 50% of the payment. The total tax credit is equal to 50 percent of the full cost of the training program.
Notice: This list of economic development incentive programs is intended to provide a high-level overview of commonly pursued state discretionary programs. A comprehensive analysis of project details will determine the full scope of state and local incentive programs that may be available to support a specific project.